We need a Reagan tax revolt to counter today's big-government spending

[oeb11]

https://www.msn.com/en-us/news/polit...8jt?li=BBnbfcL


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Forty years ago this month, Ronald Reagan signed the Economic Recovery Tax Act, a historic achievement of the national taxpayer revolt that found its conception in California in the early 1970s and ultimately demonstrated the powerful economic success of supply-side tax policy.
© Getty Images We need a Reagan tax revolt to counter today's big-government spending These pro-taxpayer reforms - also known as Kemp-Roth, for congressional champions Rep. Jack Kemp (R-N.Y.) and Sen. Bill Roth (R-Del.) - significantly cut the top income tax rates from 70 percent to 50 percent, reduced and indexed for inflation business and capital gains, and ushered in more than two decades of unprecedented economic prosperity.

These achievements were founded initially in the crucible of the California Tax Revolt, which then-Gov. Reagan led. He understood the power of tax cuts and the resultant unleashing of American capital and innovation. In the early '70s, Reagan asked me to lead a group to devise a California government spending and tax reform measure, which eventually became Proposition 1 on the 1973 state ballot.
That citizen initiative was our first attempt at reining in government's penchant for out-of-control spending and tax increases, and although this initiative fell short of passage, it touched a political undercurrent that sparked a much larger taxpayer movement, ultimately leading to the passage of Proposition 13 to limit property taxes and Proposition 4, the Gann Limit, which indexed government growth to population and inflation.
More importantly, these achievements had the profound impact of proving the truth of supply-side economics and the power that a national tax revolt can provide to a nation. Reagan instinctively understood, first as governor of California and then as president, the nature of government spending and its potentially ill effects on people.
I am often reminded of his quote on the dangerous essence of government spending: "No government ever voluntarily reduces itself in size. Government programs, once launched, never disappear. Actually, a government bureau is the nearest thing to eternal life we'll ever see on this earth."
Big-government advocates, he also once remarked, must be forced to curb their profligate ways. That was the precept under which we lived as we launched the tax revolt - and we should be reminded of now, as we ponder a modern-day correction to the reckless economic course that Joe Biden's administration has set for America.
It's no surprise that big-government tax-and-spenders once again have led our nation into high inflation and economic malaise with outrageous spending. Yet, Reagan's work charted a course to follow that would steer clear of the rocky shoals into which the left is determined to lead us.
On Aug. 13, we celebrated the undeniable economic prosperity evidenced by Reagan's signing of the Economic Recovery Tax Act. This anniversary ironically came in the same month that Senate Democrats were moving us in the opposite economic direction with a $1 trillion infrastructure bill and $3.5 trillion budget.
Thankfully, one of the most important legacies of the Reagan tax reform effort were follow-up state pro-growth policies, which are alive and well in many places. We continue the tax reform work in state capitals and major economic centers across the country through a network of organizations known as the State Policy Network.
"Simple fairness dictates that government must not raise taxes on families struggling to pay their bills," Reagan said on many occasions. "You can't be for big government, big taxes and big bureaucracy and still be for the little guy."
These are words that Democrats would be wise to pay attention to. The supply-side movement he championed 40-some years ago is still right for our nation today - and some would argue, even more urgent.
Lewis K. Uhler is founder and chairman of the National Tax Limitation Committee and National Tax Limitation Foundation. He was a contemporary and collaborator with Ronald Reagan and economist Milton Friedman in California and across the country.


Uhler is correct - time to rein in the profligate bureaus and spendthrift DOST communists intent on taking over America
Reagan was correct - and a healthy dose of Reaganomics is what is needed for America - not bankruptcy causing spending from foolish DPST communists who only see ideology/domination.
Nov 2022 - Vote - and Throw out teh Voter Fraudsters!!!!

From My cold Dead hands - DPST communists.

[rexdutchman]

Yes but the brainwashed don't understand

[winn dixie]

We just need to find the next Teddy R. Or Reagan.

[bambino]

I’m awaiting our resident tax and spend expert Tiny to school us!

[winn dixie]

Originally Posted by bambino

I’m awaiting our resident tax and spend expert Tiny to school us!

Tiny is ok. Im awaiting a poll posted by speedie to tell us what to believe.

[bambino]

Originally Posted by winn dixie

Tiny is ok. Im awaiting a poll posted by speedie to tell us what to believe.

Tiny is taking legal advise from 1B1. So, he has that going for him. But we don’t have to go back to Reagan. Trumps tax policies were actually better. Plus, he got rid of more Federal regulations.

[Tiny]

Originally Posted by bambino

Tiny is taking legal advise from 1B1. So, he has that going for him. But we don’t have to go back to Reagan. Trumps tax policies were actually better. Plus, he got rid of more Federal regulations.

You have some interesting points. Lowering the corporate tax rate was a great idea, and I believe it played a part in lowering unemployment and increasing median household income to record or near record levels in 2019, before COVID. Reagan did a great job of lowering and flattening tax rates while eliminating loopholes -- I believe that made the tax system more efficient.

The only criticisms I'd have of Trump's tax policy were probably actually Ryan's fault. One was the 2017 Tax Cuts and Jobs Act made compliance more difficult, at least for me. The second was that certain other changes caused my tax rate for certain income to exceed 100%, which was not only unfair, but also like the extra compliance caused me to both make less money and pay less tax.

I'd suspect both Reagan and Trump did a great job of lowering the regulatory burden on business -- I don't know as much about that though.

I am an avid reader of anything Blackman has to write about the law. Same for Texas Tush Hog and Shyster Jon, although they haven't been around much lately.

And as to Oeb's OP, that's a good piece justifying the "Starve the Beast" theory.

[bambino]

Originally Posted by Tiny

You have some interesting points. Lowering the corporate tax rate was a great idea, and I believe it played a part in lowering unemployment and increasing median household income to record or near record levels in 2019, before COVID. Reagan did a great job of lowering and flattening tax rates while eliminating loopholes -- I believe that made the tax system more efficient.

The only criticisms I'd have of Trump's tax policy were probably actually Ryan's fault. One was the 2017 Tax Cuts and Jobs Act made compliance more difficult, at least for me. The second was that certain other changes caused my tax rate for certain income to exceed 100%, which was not only unfair, but also like the extra compliance caused me to both make less money and pay less tax.

I'd suspect both Reagan and Trump did a great job of lowering the regulatory burden on business -- I don't know as much about that though.

I am an avid reader of anything Blackman has to write about the law. Same for Texas Tush Hog and Shyster Jon, although they haven't been around much lately.

And as to Oeb's OP, that's a good piece justifying the "Starve the Beast" theory.

How do you know that any of them are actually attorneys?

BTW, you forgot about Trumps massive deregulation. That is an effect, another tax cut. It was a double whammy.

But, we could go back to JFK’s tax cuts which unleashed the economy until another idiot took over. Reagan just took JFKs formula.

You really don’t need an economics degree from Chicago University to figure it out.

[Tiny]

Originally Posted by bambino

How do you know that any of them are actually attorneys?

BTW, you forgot about Trumps massive deregulation. That is an effect, another tax cut. It was a double whammy.

It's obvious from the way they write about legal issues. I don't see how any of them could not be.

I did address deregulation - "I'd suspect both Reagan and Trump did a great job of lowering the regulatory burden on business -- I don't know as much about that though"